UNIQA FY2017 consolidated net profit up to EUR 161.4 million

1 March 2018 — Vlad BOLDIJAR
Austrian insurer UNIQA said its FY2017 Group GWP rose 4.9% y-o-y, to EUR 5.29 billion, while the combined ratio lowered to 97.5%. At the same time, the total amount of retained insurance benefits rose by 5.1% y-o-y, to EUR 3.56 billion.

According to the insurer's representatives, all three insurance sectors recorded positive growth rates in 2017. Thus, premiums written in property and casualty insurance increased in 2017 by 4.8% to EUR 2.63 billion, premiums written in health insurance rose by 3.8% to EUR 1.04 billion. In life insurance, premiums written including the savings portion of unit- and index-linked life insurance - driven particularly by a strong upturn of single premiums in Poland - rose by a total of 5.6% to EUR 1.61 billion.

In international business premiums written went up by a strong 14.9% to EUR 1.61 billion, while in Austria they rose by 0.7% to EUR 3.66 billion.

The technical result increased by 43.8% to EUR 106.2 million, EBT increased by 7.4% to EUR 242.2 million, while consolidated net profit was EUR 161.4 million (vs. EUR 148.1 million in 2016).

The insurer said the Management Board will propose to the Supervisory Board and Annual General Meeting "to continue, as planned, with the progressive dividend policy in recent years and further increase the dividend for the sixth time in a row from 49 cents in the previous year to 51 cents per share for the 2017 financial year".

For 2018, UNIQA anticipates a further improvement of EBT and intends to continue its progressive dividend policy and to increase the distribution per share. On the premiums side, UNIQA anticipates an upturn of approximately 2% in property and casualty insurance, an increase exceeding 3% in health insurance and a decline of over 5 person in life insurance, driven by a reduction of the single premiums business.

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